Definitions for "repossession"
The taking back of property by a lender or seller from the borrower or buyer, usually due to default.
The act or the state of possessing again.
When a loan is significantly overdue, a creditor can claim property (cars, boats, equipment, etc.) that was used as collateral for the debt.
The removal of rights to use by a Club (or Management Company) for not paying fees, voiding the Constitution, and the sale of those rights to recover any debt. Deeded property cannot be repossessed.
The removal of rights to use by a Club (or Management Company) for breach of the Constitution (usually non-payment of Management Fees) and the sale of those rights to recover any debt. Deeded property cannot normally be repossessed.
Forced, or voluntary surrender of merchandise as a result of the customer's failure to pay as promised. There are several types and descriptions of repossession actions.
Forced, or voluntary surrender of merchandise or collateral as a result of the customer's failure to pay as promised.
Merchandise taken back by credit grantor.
Keywords:  aren't, taken, don't, immediately, back
If you don't make your car loan payments, you risk having your car "repossessed" or taken back by the finance company that gave you the loan. Always contact the finance company immediately if you aren't going to make a monthly payment. The company may be willing to work with you to set up a payment plan.
When a house is repossessed, it is taken back by the lender holding the mortgage.
Keywords:  foreclosure, see
see foreclosure.
Keywords:  delivery, claim, see
(see claim and delivery)